Earnings Per Share (Tables)

6 Months Ended

Nov. 30, 2020

Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share for the three- and six-month periods ended November 30, 2020 and 2019.

	Three Months Ended						Six Months Ended
	November 30,			November 30,			November 30,			November 30,
(In thousands, except per share amounts)	2020			2019			2020			2019
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	127,659		$	77,030		$	308,254		$	183,218
Less: Allocation of earnings and dividends to participating securities		(1,130	)		(548	)		(2,517	)		(1,167	)
Net income available to common shareholders - basic		126,529			76,482			305,737			182,051
Add: Undistributed earnings reallocated to unvested shareholders		4			1			9			3
Net income available to common shareholders - diluted	$	126,533		$	76,483		$	305,746		$	182,054
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		128,500			128,393			128,459			128,639
Average diluted options and awards		590			686			619			655
Total shares for diluted earnings per share (1)		129,090			129,079			129,078			129,294
Earnings Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	0.98		$	0.60		$	2.38		$	1.42
Method used to calculate basic earnings per share	Two-class			Two-class			Two-class			Two-class
Diluted Earnings Per Share of Common Stock	$	0.98		$	0.59		$	2.37		$	1.41
Method used to calculate diluted earnings per share	Two-class			Two-class			Two-class			Two-class

(1)

Restricted shares totaling 225,500 and 339,550 for the three and six months ended November 30, 2020, respectively and 178,000 the six months ended November 30, 2019, were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. There were no shares of restricted stock identified as being anti-dilutive for the three months ended November 30, 2019. In addition, stock appreciation rights (“SARs”) totaling 360,000 and for the three and six months ended November 30, 2020, respectively, and 790,000 for the six months ended November 30, 2019, were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. There were no SARs identified as being anti-dilutive for the three months ended November 30, 2019.